KENNIS MARK: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
KENNIS MARK
Largest movements
- Tangible fixed assets +€81,010
up €81,010 (+28.0%), from €289,023 to €370,034
of which Plant, machinery and equipment: +€81,985
- Cash +€40,686
up €40,686 (+314%), from €12,954 to €53,640
mainly Debts after one year (+€73,346) and Net result for the year (+€64,357)
- Debts after one year +€73,346
up €73,346 (+71.5%), from €102,622 to €175,969
- Reserves +€37,840
up €37,840 (+41.5%), from €91,234 to €129,074
of which Tax-exempt reserves: +€39,700
- Other debts +€26,395
up €26,395 (+269%), from €9,805 to €36,201
- Current portion of long-term debt -€23,225
down €23,225 (-28.2%), from €82,295 to €59,071
- Tax, wage and social debts -€11,341
down €11,341 (-85.2%), from €13,307 to €1,965
of which Remuneration and social security: -€12,170
- Gross operating margin +€73,533
up €73,533 (+125%), from €58,975 to €132,508
- Taxes +€2,348
up €2,348 (+225%), from €1,044 to €3,392
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €313,275 | €437,426 | +€124,151 | +39.6% |
| Fixed assets | 21/28 | €289,023 | €370,034 | +€81,010 | +28.0% |
| Tangible fixed assets | 22/27 | €289,023 | €370,034 | +€81,010 | +28.0% |
| Plant, machinery and equipment | 23 | €286,185 | €368,170 | +€81,985 | +28.6% |
| Furniture and vehicles | 24 | €2,838 | €1,864 | -€974 | -34.3% |
| Current assets | 29/58 | €24,251 | €67,392 | +€43,141 | +178% |
| Amounts receivable within one year | 40/41 | €7,950 | €9,789 | +€1,839 | +23.1% |
| Trade receivables | 40 | €7,319 | €9,123 | +€1,805 | +24.7% |
| Other amounts receivable | 41 | €631 | €665 | +€34 | +5.4% |
| Cash at bank and in hand | 54/58 | €12,954 | €53,640 | +€40,686 | +314% |
| Deferred charges and accrued income | 490/1 | €3,348 | €3,964 | +€616 | +18.4% |
| Total equity and liabilities | 10/49 | €313,275 | €437,426 | +€124,151 | +39.6% |
| Equity | 10/15 | €97,434 | €135,274 | +€37,840 | +38.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €91,234 | €129,074 | +€37,840 | +41.5% |
| Tax-exempt reserves | 132 | - | €39,700 | +€39,700 | |
| Distributable reserves | 133 | €91,234 | €89,374 | -€1,860 | -2.0% |
| Provisions and deferred taxes | 16 | - | €9,925 | +€9,925 | |
| Deferred taxes | 168 | - | €9,925 | +€9,925 | |
| Amounts payable | 17/49 | €215,841 | €292,227 | +€76,386 | +35.4% |
| Amounts payable after more than one year | 17 | €102,622 | €175,969 | +€73,346 | +71.5% |
| Financial debts | 170/4 | €102,622 | €175,969 | +€73,346 | +71.5% |
| Amounts payable within one year | 42/48 | €113,219 | €116,259 | +€3,040 | +2.7% |
| Current portion of amounts payable after more than one year | 42 | €82,295 | €59,071 | -€23,225 | -28.2% |
| Financial debts | 43 | - | €4,000 | +€4,000 | |
| Credit institutions | 430/8 | - | €4,000 | +€4,000 | |
| Trade debts | 44 | €7,811 | €15,022 | +€7,211 | +92.3% |
| Suppliers | 440/4 | €7,811 | €15,022 | +€7,211 | +92.3% |
| Taxes, remuneration and social security | 45 | €13,307 | €1,965 | -€11,341 | -85.2% |
| Taxes | 450/3 | €1,044 | €1,872 | +€828 | +79.4% |
| Remuneration and social security | 454/9 | €12,263 | €93 | -€12,170 | -99.2% |
| Other amounts payable | 47/48 | €9,805 | €36,201 | +€26,395 | +269% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,727 | €44,024 | -€703 | -1.6% |
| Other operating charges | 640/8 | €157 | €160 | +€3 | +2.0% |
| Gross operating margin | 9900 | €58,975 | €132,508 | +€73,533 | +125% |
| Operating profit (loss) | 9901 | €14,090 | €88,323 | +€74,232 | +527% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €10,783 | €10,649 | -€133 | -1.2% |
| Recurring financial charges | 65 | €10,783 | €10,649 | -€133 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | €3,308 | €77,674 | +€74,366 | +2,248% |
| Transfer from deferred taxes | 780 | - | €1,003 | +€1,003 | |
| Transfer to deferred taxes | 680 | - | €10,928 | +€10,928 | |
| Income taxes | 67/77 | €1,044 | €3,392 | +€2,348 | +225% |
| Profit (loss) for the period | 9904 | €2,264 | €64,357 | +€62,093 | +2,743% |
| Transfer from tax-exempt reserves | 789 | - | €4,012 | +€4,012 | |
| Transfer to tax-exempt reserves | 689 | - | €43,712 | +€43,712 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,264 | €24,657 | +€22,393 | +989% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.